Central District Consumer Bankruptcy Attorney's Association

A 100% 11 is the answer.
Sent from my iPhone
On Apr 26, 2011, at 4:55 PM, Sina Maghsoudi wrote:
>
>
> Hello,
>
> I have a client who needs to file a chapter 13. It will be a 100% plan. She can meet the secured debt limit by surrendering her half of a second home. The loan and title is in name of her sister and herself. She has some questions, I didn't have an answer for.
>
> 1. If she surrenders the property on the bankruptcy petition, can she still stay on title if the mortgage payments are met by her sister.
>
> 2. I assume the bank can't change title as long as the payments are current. Can the sister attempt to gain sole title using the surrender in the bankruptcy petition as legal justification
>
> TIA.
>
> Sina
>
A 100% 11 is the answer.Sent from my iPhoneOn Apr 26, 2011, at 4:55 PM, Sina Maghsoudi <sinamagh@yahoo.com> wrote:

Hello,

I have a client who needs to file a chapter 13. It will be a 100% plan. She can meet the secured debt limit by surrendering her half of a second home. The loan and title is in name of her sister and herself. She has some questions, I didn't have an answer for.

1. If she surrenders the property on the bankruptcy petition, can she still stay on title if the mortgage payments are met by her sister.

2. I assume the bank can't change title as long as the payments are current. Can the sister attempt to gain sole title using the surrender in the bankruptcy petition as legal justification

TIA.

Sina

The post was migrated from Yahoo.

Thank you . I am just inserting, "plan confirmation is scheduled 00/00/00" and file the form. Thank you again for the insight.

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Is there any way to get around this and qualify for a Chapter 13?
Sina

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Eligibility under 109 is determined on the date of filing. Abandonment
or surrender does not change the underlying obligation under the note
and deed of trust. Therefore, not eligible if over the limits.

The post was migrated from Yahoo.

Hello,
I have a client who needs to file a chapter 13. It will be a 100% plan. home. The loan and title is in name of her sister and herself. She has some questions, I didn't have an answer for.
1. If she surrenders the property on the bankruptcy petition, can she still stay on title if the mortgage payments are met by her sister.
2. I assume the bank can't change title as long as the payments are current. Can the sister attempt to gain sole title using the surrender in the bankruptcy petition as legal justification
TIA.
Sina
Hello,

I have a client who needs to file a chapter 13. It will be a 100% plan. She can meet the secured debt limit by surrendering her half of a second home. The loan and title is in name of her sister and herself. She has some questions, I didn't have an answer for.

1. If she surrenders the property on the bankruptcy petition, can she still stay on title if the mortgage payments are met by her sister.

2. I assume the bank can't change title as long as the payments are current. Can the sister attempt to gain sole title using the surrender in the bankruptcy petition as legal justification

TIA.

Sina

The post was migrated from Yahoo.

Do the debtors need to file F3015 Motion for authority to incur debt?
1. The confirmation hearing is not until sept. 2011
2. The auto lease is expiring and the debtor wants to purchase the car, and the debtor can obtain a loan against deferred compensation.
I am confused because the Local Form F 3015 seems to predicate upon confirmation having been already done. Maybe I could just amend the plan after the facts?

The post was migrated from Yahoo.